Even during the lockdowns, folks were looking for cheaper Peloton style bikes and trying to find cheaper Peloton style programs. Also a lot of gym culture is actually physically being in a gym, so as people start going back, no one's going to care about having an expensive exercise bike in their house.
Also they learned what York, Weider, etc..... learned years ago, exercise equipment is a durable good. Barbell sets, good machines, etc.... all last decades plus, if maintained. Can't sell what people already have.
They should've came up with a line of supplements, etc... like those guys did.